Apellis Pharmaceuticals Beats Investor Suit Over Eye Drug Risks

Apellis Pharmaceuticals Inc. will escape an investor lawsuit alleging it concealed safety risks connected to its blindness-prevention treatment before a series of updates about the drug led to the company stock’s worst month since its market debut, a federal judge ruled.

Investors neither sufficiently pled any material omissions nor that Apellis and chief executive officer Cedric Francois intended to mislead them over risks during clinical trials, Judge Julia E. Kobick said. The US District Court for the District of Massachusetts judge denied the stockholders’ request for leave to amend, dismissing the proposed class action with prejudice Monday.

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